Renters Insurance

A kind of home insurance designed to protect the holder from liability arising out of losses, damages and accidents that occur in a rented home, apartment or condo. Policies usually include replacement cost.

Renters Insurance
Online quoting services can be useful if you know everything you
need to know about balancing risk and premium. However, the
cheapest policy may not be providing you the protection you need or
want.
I always recommend you check with a local independent agent who
represents multiple companies. Also, one common mistake made when
buying renters insurance is accurately valuing your personal
property. A great (and FREE) tool is provided by the Insurance
Information Institute. It is free downloadable software to help you
figure out exactly what the replacement value of your belongings
should be.

Renters insurance is definitely worth getting. Most agents or
brokers from whom homeowners insurance can be purchased can also
write renters insurance.
As for renters insurance being shared... since you are renting
the premises, renters insurance covers contents only (not the
structure of the building). The policy that you buy will specify
the meetes and bounds of what is covered. It is important that you
list on the application or other document tendered by the agent,
the items that you wish to insure. The value of the items will
determine the amount of coverage that you buy.
If you are buying the insurance with your roomate, be sure that
both of you are shown to be insureds on the policy. Keep in mind,
though, that if you part ways, the policy may have to be altered
for the person who moved because the risk has changed (the property
insured will be relocated to a new location).
Get receipts, photos, and descriptions ready for each of the
items, especially the expensive items, and tell your renters
insurance company that you want to add additional items to your
renters insurance policy.

The answer below is pretty much correct. It is important to
understand that there is rent and security. The deposit is to cover
losses and protect the landowner against you if you have bad credit
or if you demolish the apartment. The owner must deposit this in a
separate security account that carries interest payments on your
money.
Only if it is included in the wording of the lease that was
signed. If there is no clause requiring last month's rent. Then the
request by the landlord is unenforceable.
:
Better if you are going to review your contract because that is
the only way to know if the things that your landlord's doing are
legal. There are times that they are allowed to ask for last months
deposit because they need to be assured that even though you will
be evicted or move out without ending the lease and you choose not
to pay your last monthly rental fee at least they have your last
month deposit.

There are different types of insurance, may be the insurance
cover you are opting doesn't cover your stuff when you are outside
the house premises. In that case you should ask your insurance
agent to provide that insurance to you.

Insurance companies investigating or handling a claim appoint an
adjuster. I know of no instance where an insured or claimant would
hire an insurance companies adjuster.
If you disagree with the company adjusters valuation or handling
of your claim, You are welcome to go out and hire your own public
adjuster to get a second opinion.

Renters Insurance and Pets Most likely it will not effect your
renters insurance or your rate simply because your policy would not
cover damages that result from your choice of pet.
Your renters insurance policy typically excludes coverage for
damages and injuries incidental to pet ownership. When it comes to
pet fish, Occasional tank leaks and breakage are a normal expected
occurrence and would likely not be considered eligible for Hazard
coverage.
Answer
** It depends, you would need to read over your policy to see
what the exclusions are. Most likeyl you wont be cancelled but just
research your policy or even call your agent and ask them.
Another Take It shouldn't really be a problem. It really does
depend on your landlord and insurance, but as long as you're not,
say, insetting the tank into the wall, or there's a high risk of
permanent water damage to the floor and wall, you should be
alright.
Answer
You may want to verify with the landlord if you are putting in a
large tank, that the structure will be able to support the weight.
Or, get a ground floor apartment, where any weight or leak is less
likely to become an issue.

Tax Deductions for Partial
Rentals
Here is some advice from Wiki s community members:
If you rent part of your property, you must divide certain
expenses between the part of the property used for rental purposes
and the part of the property used for personal purposes, as though
you actually had two separate pieces of property.
If an expense is for both rental use and personal use, such as
mortgage interest or heat for the entire house, you must divide the
expense between rental use and personal use. You can use any
reasonable method for dividing the expense. It may be reasonable to
divide the cost of some items (for example, water) based on the
number of people using them. However, the two most common methods
for dividing an expense are one based on the number of rooms in
your home and one based on the square footage of your home. [See
Publication 527 at IRS.gov for more information.]
IN the case of electrical use, install a separate electrical
meter for the rental unit, and insist that the tenants have to put
up the deposit to get the "power turned on" themselves, that way
you are protected if they don't pay the electric bils. Same thing
for telephone and cable tv services.

As long as it is just a visit, and your primary residence is
still the apartment that you rent, keep the insurance. Many leases,
even residential ones, require that insurance be maintained during
the term of the lease, with the landlord named as an additional
insured. Therefore, were you to cancel coverage, you may be deemed
to be in breach of the lease.
Additionally, renters insurance covers primarily contents and
those things "within the 4 walls"; the landlord's coverage
generally covers the structure. Therefore, were there to be a
covered loss while you were away and the insurance had been
cancelled, you would be effectively uninsured.
It is also important to check the insurance policy to determine
whether or not there are provisions requiring you to notify the
insurer or the agent of your extended absence. The reason for such
a provision is because, in theory, a greater risk of loss may be
considered to exist in a vacant unit that has no one monitoring
potential problems (such as leakage of water), that could give rise
to a claim.
Review the policy with your agent prior to departing, but keep
it in force.

== == Usually paying the last month rent means you pay the
regular rent plus a closing fee which means if there are any
damages done to the place that was not there before you then you
have to pay so much for that too. == == The usual practice is to
pay the "first and last" month's rent when you move IN to the unit.
This means that the owner is holding a amount that is equal to the
last month's rent that you occupy the unit. This is so you can't
skip owing rent.

Renter's insurance is available to people in many areas of the
country, but it is not available in all areas. Renter's insurance
usually covers only the personal possessions of the renter and does
not cover any damage to the physical property itself. Insurance
costs vary depending on the location of the property and the amount
of personal possessions you want to insure. A local agent can give
you a close estimate of the costs of insuring an apartment in New
York City.

Commercial Space Rental and
Insurance
What you would need to buy for a commercial space is called
Commercial General Liability Insurance.
Answer
There is a big difference between Retail and Renter's insurance.
Retail insurance is for any type of basically a retail business
that has an inventory used for retail purpose. Renter's insurance
is used for a private individual or family that is renting a home
or apartment and wants to protect their belongings from
fire/flood/etc. You cannot use renter's insurance to protect a
retail space which is considered business. Retail insurance does
cost more. But to get the best answer to this question consult your
insurance agent.

The regulations regarding all monies paid by a tenant in advance
to a landlord varies greatly by state and local municipalities. In
California, specifically Los Angeles county where I live, a
landlord is prohibited from requiring advance payment of rent and
must call it 'security deposit'. Here, a rule, effective as of 1990
(but in a moratorium as of this year!), mandates payment of
interest on any and all monies held more than 12 months. And, in
researching rental rights for landlord and for tenant, I have come
across many variants regarding advance and deposit payments that
one would need to know your location for a definitive answer!

If you were aware of a leak....informed no one, took no steps to
repair or prevent the water from escaping your apartment and
damaging your neighbor's goods......you are. However, if you are
talking of a sudden and accidental occurence....neither you, the
neighbors or the owner/landlord had warning or knowledge of the
potential water escaping...your insurance covers your property, the
neighbor's insurance covers his etc...

just check the fixing film if it is torn replace it with new
one. no need to reset it just replace it and it will automatically
reset. take a look at the end of the film be sure you can see the
white square.